MILTON — GPS Hospitality, an Atlanta-based company, has purchased numerous Burger King locations in Milton, Pace and Pensacola.
The acquisition is part of a deal that will give GPS 194 Burger King restaurants in the southeastern United States including Florida, Alabama, Arkansas, Louisiana and Mississippi.
GPS purchased the properties from Strategic Restaurants Acquisition Corp. Holdings, according to a media release. Now, the company has 424 Burger King locations and seven Popeye’s locations nationwide.
The release mentioned no immediate changes for the franchises, other than remodeling for 30 to 40 sites per year, according to the Financial Times.
“We definitely think there is an opportunity in the gulf,” Scott Jasinski, chief financial officer of GPS Hospitality, said in the Financial Times. “We like the stores, we like the locations, and Strategic had started doing a lot of the remodeling already in the market.”
GPS is an acronym for Goals, People and Service, according to the company’s media kit. The company was founded in 2012 and initially began with 42 Burger King restaurants in the Atlanta area.
With the acquisition, GPS Hospitality claims to be halfway through to their 10-year goal.
“This is a tremendous opportunity for us and takes us a huge step closer on our journey to achieving $1 billion in sales by 2022,” said Tom Garrett, GPS Hospitality’s chief executive officer.
“In just four years, we’ve created a thriving company that is on track to exceed its highest goals. It’s rare to see such fast growth in this competitive industry.”
This article originally appeared on Santa Rosa Press Gazette: Atlanta company buys local Burger King franchises